Comet Announces Closing of Transaction with Troilus Gold
Comet Announces Closing of Transaction with
Troilus Gold
ROUYN-NORANDA, QC
,
Aug. 9, 2024
/CNW/ - Comet Lithium Corporation (TSXV: CLIC) (FSE:
8QY) ("
Comet Lithium
" or the "
Corporation
") is pleased to announce that it has closed the
previously announced transaction with Troilus Gold Corp. ("
Troilus Gold
"), whereby it has acquired
three prospective lithium projects from Troilus Gold for total consideration comprised of 1,500,000
common shares of the Corporation, the grant of a 24-month participation right to Troilus Gold
allowing Troilus Gold to participate in any equity financing in order to maintain its equity percentage
in the Corporation, subject to certain conditions including Troilus Gold holding at least 750,000
common shares of Comet Lithium at the time of the equity financing, and a grant of a 2% net smelter
royalty with right to buyback 1% for
$3 million
on each of three prospective lithium projects (see
Comet Lithium's press release dated
July 15, 2024
for more details on the transaction and a
summary of the projects acquired from Troilus Gold).
About Comet Lithium Corporation
Comet Lithium is a dynamic lithium-focused exploration company active in the prolific
James Bay
District of
Quebec
. Comet Lithium's flagship asset is its 100%-owned Liberty Property contiguous to
Winsome Resources' Adina lithium deposit, a growing high-grade lithium discovery.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
the release.
SOURCE
Comet Lithium Corporation
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http://www.newswire.ca/en/releases/archive/August2024/09/c9257.html
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For further information:
For further information: Comet Lithium Corporation, Vincent Metcalfe,
Chairman and CEO, [email protected], +1.514.249.9960; 147 Québec Avenue (back
door), Rouyn-Noranda, Québec, J9X 6M8, Email: [email protected], Website:
CometLithium.com
CO: Comet Lithium Corporation
CNW 17:21e 09-AUG-24